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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Assets
Trading securities		$ 820,134	$ 445,687
Available-for-sale securities		536,138	572,752
Derivative assets	[1]	11,948	36,595
MSRs	[1]	62,928	118,526
Pledged collateral		42,933	42,875
Liabilities
Derivative liabilities	[1]	65,238	66,329
Fair Value, Measurements, Recurring
Assets
Trading securities		820,134	445,687
Available-for-sale securities		536,138	572,752
Derivative assets		11,948	36,595
MSRs		62,928	118,526
Pledged collateral		42,933	42,875
FHLBC stock		43,393	43,393
Guarantee asset		3,049	4,092
Liabilities
Derivative liabilities		65,238	66,329
ABS issued		944,288	773,462
Fair Value, Measurements, Recurring | Residential Loans
Assets
Residential loans		4,183,833	3,886,845
Fair Value, Measurements, Recurring | Level 1
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		3,010	8,300
MSRs		0	0
Pledged collateral		42,933	42,875
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Derivative liabilities		4,369	5,609
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 1 | Residential Loans
Assets
Residential loans		0	0
Fair Value, Measurements, Recurring | Level 2
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		3,942	24,980
MSRs		0	0
Pledged collateral		0	0
FHLBC stock		43,393	43,393
Guarantee asset		0	0
Liabilities
Derivative liabilities		57,994	56,919
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 2 | Residential Loans
Assets
Residential loans		0	0
Fair Value, Measurements, Recurring | Level 3
Assets
Trading securities		820,134	445,687
Available-for-sale securities		536,138	572,752
Derivative assets		4,996	3,315
MSRs		62,928	118,526
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		3,049	4,092
Liabilities
Derivative liabilities		2,875	3,801
ABS issued		944,288	773,462
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Residential loans		$ 4,183,833	$ 3,886,845
[1] Our consolidated balance sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At September 30, 2017 and December 31, 2016, assets of consolidated VIEs totaled $995,768 and $798,317, respectively. At September 30, 2017 and December 31, 2016, liabilities of consolidated VIEs totaled $945,873 and $773,980, respectively. See Note 4 for further discussion.

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